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Time of India
3 days ago
- Business
- Time of India
Telangana sees sharp rise in number of high-income taxpayers in last five years
1 2 3 4 Hyderabad: Be it the pandemic or layoffs across industries, nothing seems to have slowed the growth of employees in Telangana, as the number of individuals earning over Rs 25 lakh per annum increased by over 140% in the last five years, records show. While the total number of ITRs declaring a total income between Rs 25 lakh and Rs 50 lakh stood at 25,216 during the assessment year (AY) 2020-21, the figure shot up to 60,830 in AY 2024-25. In fact, the state saw a steady increase in the last five years when it comes to people earning over Rs 25 lakh per annum (LPA). "For me, the pandemic came as a boon. From hardly Rs 10 LPA, my package increased to over Rs 25 lakh as I switched jobs four times in five years," said Sai K, a software professional. You Can Also Check: Hyderabad AQI | Weather in Hyderabad | Bank Holidays in Hyderabad | Public Holidays in Hyderabad | Gold Rates Today in Hyderabad | Silver Rates Today in Hyderabad Giving a peek into the trend, Jitender Reddy, a senior service delivery manager at an IT firm, said that people earning between Rs 2 lakh and Rs 5 lakh and Rs 5 lakh and Rs 8 lakh benefited the most. "This comes as no surprise as many IT employees switched companies during the pandemic with at least a 30% hike. With year-on-year hikes afterwards, their package would easily cross the Rs 25 lakh mark," he added. A few pointed out that there are quite a few who moonlighted during Covid-19 as they were working remotely and added that they are continuing to file inflated returns to ensure that there is no mismatch in their income in the last few years. Along with IT professionals, people from other sectors such as pharma also received good hikes in the last few years. An increase in risk appetite post-pandemic, awareness about investment opportunities, and an increase in real estate prices, among others, are also attributed as other factors that contributed to the increase in the income of individuals. "Definitely, real estate would be a factor that contributed to the increase in income. Also, many are starting their own businesses as they are willing to take risks and are running successful businesses. This could be because of an increase in risk appetite and also an increase in the number of districts," said K Laxminarayana, an economics professor, adding that those in the health and education sectors have also started earning good money in the last few years. As per the data tabled in Lok Sabha, the increase was about 100% in the same category as the ITR filers in the said bracket increased from 4,03,363 in 2020 to 8,42,147 in 2025 across the country. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area.
Hans India
27-05-2025
- Politics
- Hans India
State BJP ST Morcha asks DGP to take action against firms selling spurious seeds
Hyderabad: The State BJP ST Morcha lodged a complaint with DGP Jitender Reddy demanding justice for tribal farmers who have suffered losses due to spurious seeds. A team of BJP ST Morcha leaders led by ST Morcha state president Dr Kalyan Nayak met the DGP on Monday and told him about the prevailing situation in the Venkatapuram agency areas of Mulugu district. He said 'For the past few months, companies such as SIMJANTA, HITECH, BAYER, and SIBI have been supplying fake seeds. Tribal farmers who relied on quality seeds have faced devastating losses. Tragically, some farmers, burdened by debt, have committed suicide. The morcha leader said that this is not an agricultural failure, but, 'a conspiracy by the corrupt state government machinery hand in glove with the seeds companies against innocent tribal communities.' They demanded registering criminal cases against the responsible companies under the PD Act, and farmers should be compensated. Measures must be taken to prevent such scams in the future. Further, they demanded the State government immediately compensate the farmers who lost 3,000 acres of crops, support 800 tribal farmers, and provide ex-gratia payments to the families of the five deceased farmers. Besides, criminal cases should be registered against the companies that supplied fake seeds under the Money Laundering Act, and against the company owners under the PEDIAC Act. Similarly, they demanded an investigation into the responsible government officials, and appropriate action should be taken. Control measures and awareness programs should be implemented to prevent such incidents in the future. Dr Kalyan Nayak criticised the state government, stating, 'Minister Seethakka's focus on sand quarries and interest in beauty competition and silence over the suicides of tribal farmers. Even the Agriculture Minister has not responded to this crisis. While the Chief Minister conducts reviews, he has completely ignored the problems of the tribal farmers, he alleged. BJP ST Morcha State general secretary Ravi Nayak Nenawat, state secretary Kunja Santosh, Mahesh Rupawat, Banoth Anusha, and Ramesh Nayak were part of the delegation.
